Microsoft and OpenAI's partnership changes? Reportedly deadlocked in renegotiating equity terms

Zhitong
2025.06.25 06:58
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OpenAI CEO Sam Altman revealed that he recently held a high-level meeting with Microsoft CEO Satya Nadella to discuss the strategic cooperation between the two companies. Both parties are renegotiating investment terms, and if a consensus cannot be reached, Microsoft may suspend negotiations. Altman emphasized that strategic cooperation requires alignment of views, and interactions with the U.S. political sphere are also deepening. The market is paying attention to the future direction of this tech alliance

According to Zhitong Finance APP, OpenAI CEO Sam Altman revealed on Tuesday that he held a high-level meeting with Microsoft (MSFT.US) CEO Satya Nadella on Monday to engage in in-depth discussions about the future strategic cooperation between the two tech giants. This dialogue occurred at a critical juncture earlier this month when reports indicated that both parties were renegotiating investment terms. It is reported that Microsoft, as OpenAI's largest investor, is negotiating core terms such as future equity stakes with the AI unicorn, and if a consensus cannot be reached, this tech giant may suspend the relevant negotiation process.

In response to market concerns, Altman admitted: "Any deep strategic collaboration inevitably involves alignment of views, and our cooperation with Microsoft is no exception." However, he emphasized that this dynamic adjustment holds significant strategic value for both parties in the long run.

It is noteworthy that the partnership between Microsoft and OpenAI is facing new variables: on one hand, both parties need to reach a new balance on future equity structure and other commercial terms; on the other hand, the commercialization process that OpenAI is accelerating and the depth of integration with Microsoft's cloud business are still under exploration.

Beyond the competition among tech giants, Altman also disclosed his latest interactions with the U.S. political sphere. He confirmed that he recently had substantive discussions with U.S. President Trump regarding the development of artificial intelligence and praised the Trump administration's profound understanding of the geopolitical value and economic potential of AI technology.

This statement coincides with Trump's high-profile announcement of the "Gateway to the Stars" plan earlier this year—an AI infrastructure project led by SoftBank Group, with participation from OpenAI and Oracle (ORCL.US), aiming to leverage up to $500 billion in private sector investment to build the next generation of AI infrastructure.

Although neither Microsoft nor OpenAI has officially responded to the details of the negotiations, the market is closely watching the direction of this tech alliance. As the world's highest-valued AI startup, the evolution of the partnership between OpenAI and its backer Microsoft may reshape the investment logic and ecological landscape of the AI industry

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